Coal allocation cannot amount to proceeds of crime under money laundering law, says Delhi High Court

Coal allocation cannot amount to proceeds of crime per se under the money laundering law, the Delhi High Court Tuesday said. The observation was made by Justice Yashwant Varma while quashing the proceedings initiated against a company by the Enforcement Directorate, including provisional attachment of properties, in connection with an alleged money laundering case arising from the allocation of a coal block to it by the authorities in 2003.